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Kiri Dyes to tap market on March 25

CHENNAI: Kiri Dyes and Chemicals, manufacturer of reactive dyes (also known as synthetic organic dyes) and dye intermediates at its plant in Ahmedabad, is entering the capital market on March 25 with an initial public offer of 37.50 lakh equity shares of Rs. 10 each at a price band of Rs. 125-150 through book-building process. The proceeds will be utilised to part finance the expansion of dyes and intermediates units and for setting up sulphuric acid and oleum plants. At present it has a capacity to produce 10,800 tonnes of dyes and 3,600 tonnes of dye intermediates. — Corporate Reporter

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